NEW YORK – Hyundai Motor is reevaluating its plans to completely produce all-electric automobiles at a brand new plant underneath building in Georgia, an government informed CNBC on Wednesday.

José Muñoz, Hyundai president and world chief working officer, stated the corporate is evaluating whether or not or to not produce hybrid or plug-in hybrid electrical automobiles on the $7.59 billion plant along with all-electric automobiles.  

“We at the moment are preparing for a ramp-up on electrical automobiles after which we’re evaluating if we have to possibly add some further applied sciences into the plan relying available on the market analysis,” Muñoz stated on the sidelines of the New York Worldwide Auto Present.

The reassessment comes amid slower-than-excepted adoption of EVs, in addition to the Biden administration revising emissions guidelines to higher bear in mind hybrid and plug-in hybrid electrical automobiles slightly than a concentrate on all-electric automobiles.

Hyundai is in the midst of investing $12.6 billion in Georgia, together with for the brand new Hyundai Motor Group Metaplant America web site in Bryan County and battery manufacturing by joint ventures with fellow South Korea-based corporations LG Power Answer and SK On, which will probably be a separate facility

Muñoz stated Hyundai stays dedicated to EVs but in addition is aware of hybrids and plug-in hybrid automobiles could also be higher for some shoppers.  

“Every thing is on the desk,” Muñoz stated. “We’ll regulate to the market demand and, in the meanwhile, we’re on observe for what the regulators are requesting.”

Hyundai on Wednesday revealed a refreshed Tucson crossover that will probably be provided as a standard fuel engine, hybrid and plug-in hybrid electrical car.

“I feel the PHEV is a key strategic subject for us. We have been one of many pioneers on PHEV and I feel we need to reap the benefits of that,” Muñoz stated. “However hybrid is essential … our hybrid manufacturing in rising. There is a excessive demand for it. So you are going to see a rise within the mixture of hybrids in Hyundai as nicely.”